iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:IGSB) Reaches New 12-Month Low – Should You Sell?

iShares 1-5 Year Investment Grade Corporate Bond ETF (NASDAQ:IGSB) reached a new 52-week low on Tuesday. The company traded as low as $51.15 and last traded at $51.20, with a volume of 5347438 shares trading hands. The stock had previously closed at $51.32.

iShares 1-5 Year Investment Grade Corporate Bond ETF Stock Up 0.0%

The company has a fifty day moving average price of $51.87 and a 200-day moving average price of $52.20.

iShares 1-5 Year Investment Grade Corporate Bond ETF Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st will be issued a $0.2037 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This is a boost from iShares 1-5 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2020. This represents a $2.44 dividend on an annualized basis and a yield of 4.8%.

Institutional Investors Weigh In On iShares 1-5 Year Investment Grade Corporate Bond ETF

Several hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 6.1% in the 4th quarter. Captrust Financial Advisors now owns 4,838,714 shares of the company’s stock valued at $255,871,000 after purchasing an additional 276,694 shares during the period. Janney Montgomery Scott LLC grew its position in iShares 1-5 Year Investment Grade Corporate Bond ETF by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 826,787 shares of the company’s stock valued at $43,456,000 after buying an additional 30,034 shares during the period. Parallel Advisors LLC increased its holdings in iShares 1-5 Year Investment Grade Corporate Bond ETF by 129.0% in the first quarter. Parallel Advisors LLC now owns 655,468 shares of the company’s stock valued at $34,451,000 after buying an additional 369,284 shares in the last quarter. Monograph Wealth Advisors LLC increased its holdings in iShares 1-5 Year Investment Grade Corporate Bond ETF by 12.7% in the first quarter. Monograph Wealth Advisors LLC now owns 636,594 shares of the company’s stock valued at $33,459,000 after buying an additional 71,550 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of iShares 1-5 Year Investment Grade Corporate Bond ETF by 17.2% in the first quarter. Bank of New York Mellon Corp now owns 519,996 shares of the company’s stock worth $27,331,000 after acquiring an additional 76,230 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About iShares 1-5 Year Investment Grade Corporate Bond ETF

The iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is an exchange-traded fund that is based on the ICE BofA US Corporate (1-5 Y) index. The fund tracks a market-value-weighted index of US dollar-denominated, investment-grade corporate debt with 1-5 years remaining in maturity. IGSB was launched on Jan 5, 2007 and is managed by BlackRock.